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Date: March 22nd, 2023 Cattle futures finally able to break the recent lower trends and close with modest gains but lean hogs continue to tank hitting new lows again yesterday and the nearby April contract closing in on the contract low. The big question for cattle prices remains whether the focus will be on the bullish fundamentals or the fear mongering and uncertainty surrounding the U.S. banking system. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 3/20/2023 - Final This Week: 7,683 Last Week: 7,795 Last Year: 7,024 Compared to last week feeder steers sold steady. Feeder heifers under 475 lbs. sold steady to 4.00 higher. Heavier weights sold steady. Heifer calves weighing 310 lbs. sold at 280. 450 head…

Date: March 20th, 2023 Mixed livestock futures on Friday but all lower week over week. Cash fed cattle trade weaker for the first in over a month as trade in South was $1 lower at $164 live and trade in the North was $1 to $2 lower at $164 live and $263 to $264 dressed. Cattle on feed report on Friday was again bullish and in line expectations. Cattle on feed as of March 1st totaled 11.6 million head which is 4% below a year ago. Placements during February totaled 1.73 million head and down 7% vs. last year while marketings totaled 1.74 million head and down 5% from last year. Weekly closes in the meats…April Live Cattle -$1.95, June -$2.25, March Feeder Cattle -$2.62,…

The big selloff in the meats started back on Friday and it willingly continued yesterday, creating a lot of panic in the process. There’s been a lot of damage on the charts from a technical analysis standpoint and that has a chance at providing more active speculative liquidation of longs and new selling to be added to the mix. That’s not a forecast though, if that’s what you’re looking for, it’s just a valid talking point of the potential that lies ahead. SVB and Signature bank going under was the biggest focus in markets yesterday, along with the very willing bailout by the feds. Economists and finance folks have been and are going to continue to make very confident predictions on the outcome of this…

Date: March 13th, 2023 Cattle futures were lower on Friday and lean hogs higher. For the week, live cattle lower while feeders and lean hogs were higher. Equities were sharply lower last week, DOW down over 1700 points last week, which provided some of the pressure on fats. Cash fed cattle trade was steady in the South last week at $165 live after 5 consecutive weeks of higher prices. Trade in the North was steady to $3 higher at $165 to $166 live and $265 to $268.50 dressed. Weekly closes, Friday, March 3rd to Friday, March 10th…April Live Cattle -$1.15, June -$2.02, March Feeder Cattle +$1.47, April +$1.62, August +$1.85, April Lean Hogs +$2.90, June +2.15. Boxed Beef, Choice -$4.41 @ $284.91, Select -$5.32 @…

Date: March 7th, 2023 Cattle futures higher to begin the week, feeders the leader finishing mostly $2+ higher while lean hogs were steady to lower on Monday. March feeders closing in a new contract high as April forward contracts continue to make new contract highs. October forward now over $220 as the front month has not been above $200 since September 2015 and the all time spot high was back in October 2014 at $245.20. Some live cattle contracts also hit new contract highs yesterday. Packers enter this week will a little more inventory but are still looking at tight supplies moving forward with negotiated cash trade most likely holding off again until later in the week. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK…

Date: March 6th, 2023 Livestock futures finished higher last Friday which allowed for live cattle to settle near steady for the week and feeders higher week over week. Cash fed cattle trade added another $1 to $5 compared to the week previous with live trade in the South at $165 and trade in North from $165 to $167 live and $262 to mostly $265 on a dressed basis. Negotiated cash has been higher when compared to the year previous every week so far this year and all of 2022 while less than half of the time beef prices have been higher. The leverage continues to shift from packers to cattle feeders and should continue until slaughter ready supplies are back in a surplus so long…

Date: March 1st, 2023 Livestock futures all trading higher yesterday except deferred lean hogs. Overall, feeders scored the best gains as corn closed lower for the 5th consecutive day. April forward feeder contracts all scored new contract highs. Cash fed cattle trade still holding off for now, I wouldn’t expect to see much volume until Thursday or Friday again this week. IA early week trade reported at $165 live, $1 higher than last week and offers in the South starting at $166, $2 higher than the majority of last week’s trade. Kingsville Livestock Auction - Kingsville, MO Livestock Weighted Average Report for 2/28/2023 - Final This Week: 2,177 Last Week: 2,624 Last Year: 2,306 Compared to last week, feeder steers under 650 lbs sold on…

Date: February 28th, 2023 Livestock futures mixed to begin the week and feeders the only ones able to hold gains into the close with corn lower. It took longer than expected, especially following a bullish cattle on feed report last Friday, but feeders slowly crept higher yesterday. Live cattle lost ground into the close although fundamentals remain supportive with strong beef demand and tight slaughter ready supplies. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 02/25/2023 RECEIPTS: Auctions Direct Video/Internet Total This Week: 188,200 61,700 6,000 255,900 Last Week: 198,900 43,000 43,400 285,300 Year Ago: 170,600 34,100 48,800 253,500 Compared to last week, steers and heifers sold steady to 4.00 higher. The supply of feeders was moderate and demand remains good to very good.…

Date: February 22nd, 2023 Livestock futures all higher yesterday supported by higher cash and robust demand. Pork exports have been very strong so far this year and boxed beef sharply higher the past couple weeks. Feeders only able to make small gains as higher corn futures on Tuesday kept the lid on any rallies. No cash fed cattle trade yet to report this week but asking prices in the South have already been coming forward at $164 live, another $2 higher than the bulk of last week’s trade. Last week's negotiated cash cattle trade totaled 76,616 head. Of that 77% (59,190 head) were committed for the nearby delivery, while the remaining 23% (17,426 head) were committed for the deferred delivery. Kingsville Livestock Auction - Kingsville,…

Date: February 21st, 2023 Livestock futures were mixed last Friday and steady to higher for the week. Weekly exports were routine again for beef while remaining very strong for pork. Cash fed cattle trade added another $1 to $2 compared to the week previous. The largest volume again holding off until late Friday at $162 live in KS and TX and trade in the North ranged from $160 to $162 live and mostly $257 dressed. Beef prices last week also sharply higher which should continue to encourage higher prices to be paid by packers without them giving up the additional positive margins. Boxed beef prices over $11 higher last week and packers only giving up 20-25% of that gain. For the week, Friday February 10th…